Alliance Global Partners Begins Coverage on Ring Energy (NYSEAMERICAN:REI)

Stock analysts at Alliance Global Partners initiated coverage on shares of Ring Energy (NYSEAMERICAN:REI - Get Free Report) in a report released on Friday. The firm set a "buy" rating and a $2.50 price target on the stock. Alliance Global Partners' price target indicates a potential upside of 216.86% from the company's previous close.

Ring Energy Price Performance

NYSEAMERICAN REI traded up $0.01 on Friday, hitting $0.79. The company had a trading volume of 289,913 shares, compared to its average volume of 2,299,752. The company has a market capitalization of $162.94 million, a PE ratio of 2.19 and a beta of 0.77. The company's fifty day moving average price is $0.81 and its 200-day moving average price is $1.13. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.47 and a quick ratio of 0.44. Ring Energy has a 12-month low of $0.72 and a 12-month high of $2.06.

Insider Transactions at Ring Energy

In other Ring Energy news, major shareholder Warburg Pincus (E&P) Xii Llc sold 2,486,027 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $0.92, for a total value of $2,287,144.84. Following the transaction, the insider directly owned 20,509,300 shares in the company, valued at $18,868,556. This represents a 10.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 8,436,343 shares of company stock worth $7,183,625 in the last 90 days. 3.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ring Energy

Hedge funds have recently modified their holdings of the stock. Arkadios Wealth Advisors increased its position in Ring Energy by 97.7% during the 1st quarter. Arkadios Wealth Advisors now owns 23,429 shares of the company's stock worth $27,000 after purchasing an additional 11,579 shares in the last quarter. CWM LLC lifted its stake in shares of Ring Energy by 99.3% in the 1st quarter. CWM LLC now owns 27,773 shares of the company's stock valued at $32,000 after purchasing an additional 13,840 shares in the last quarter. Ullmann Wealth Partners Group LLC lifted its stake in shares of Ring Energy by 95.2% in the 1st quarter. Ullmann Wealth Partners Group LLC now owns 28,698 shares of the company's stock valued at $33,000 after purchasing an additional 13,996 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Ring Energy by 204.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 26,187 shares of the company's stock valued at $36,000 after purchasing an additional 17,574 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Ring Energy in the 1st quarter valued at about $42,000. 77.14% of the stock is owned by institutional investors and hedge funds.

About Ring Energy

Ring Energy, Inc, an independent oil and natural gas company, engages in the acquisition, exploration, development, and production of oil and natural gas properties. The company has interests in 56,711 net developed acres and 2,668 net undeveloped acres in Andrews, Gaines, Crane, Ector, Winkler, and Ward counties, Texas; and 8,751 net developed acres and 12,405 net undeveloped acres in Yoakum County, Texas and Lea County, New Mexico.

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